Bulletin

First Republic Bank raises net $109.8 mln via IPO

SAN FRANCISCO (MarketWatch) -- First Republic Bank
FRC, -1.51%
said Tuesday that it raised a total of $109.8 million in net via its initial public offering. First Republic and a few of its shareholders sold 12.65 million common shares at $25.50 a share on Dec. 8. "First Republic did not receive any proceeds from the sale of common stock by the selling shareholders, none of whom sold more than 7.5% of their total shares," said the bank in a statement.

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